Planning to invest

[bryant_16]

Hi guys,

I'm planning to invest some money but I do not know what and where to invest my money on. Recently, I met up with some insurance agent and she recommend to me ILP. Wonder if I should invest my money into ILP since I heard from my friends that it is quite low risk but still have a decent percentage of yield?

Need help here...

Thanks in advance.

 

[jack81]

ILP have many hidden cost. Lets not kid anybody on this.
I have seen clients with ILPs suffering losses.
I have also seen clients making additional $300 plus or more monthly on top of the monthly premium.
Its not a plan that is suitable for everybody.
Its not a plan to hold till old age that's for sure coz the charges will definitely escalate in the future.

 

[Benson27]

Try open a trading account
Invest in stock.

Better return, ownself manage.

 

[Shiny Things]

No. No, you should not.

An ILP is just an insurance wrapper around a bunch of unit trusts. You get charged extra for the insurance, but you don't get any extra benefit for it. It's a ripoff.

You're better off just investing straight into stocks - it's cheaper, and you end up putting money in your pocket instead of the insurance agent's.

 

[chopra]

buy term invest the rest on your own.
ILP = lots of money go to agents' pocket who reinvest on unit trusts etc. They are just another layer of middleman. Skip this layer if you dowan to lose hard earn money.

 

[Darkzi0n]

it is not true that ILP is low risk. it depends on the underlying fund that u choose to invest which range in the amount of risk involved.

and as the above posts mentioned. ILP is investing in unit trust (mutual fund) through insurance coy.. y pay the extra layers of fees? in fact, i wouldnt even recommend u invest in unit trust directly.

if u have the time n interest, learn how to invest in stocks urself. if not, go for index fund or etf. either way, start by educating urself atleast the basic in investment before u put ur hard earned money to any risk.

 

[Dividends Warrior]

Try open a trading account
Invest in stock.

Better return, ownself manage.

I agree.

 

[harky]

ILP... i lost $$ becos of that :/

the china india fund!

 

[Benson27]

There are plenty of brokerage you can turn to. Normally IT fair you will see Philip security. Cam approach them see if they offer account opening.

PHILIP online e-mart system aka poems.

 

[Benson27]

I agree.

Thanks. You did a great job in investment maybe you might want to share some tips for our friend here.

 

[Benson27]

ILP... i lost $$ becos of that :/

the china india fund!

Seriously ILP cannot play. Difficult to beat inflation 7 year in ILP. Hardly see any gain.

Insurance buy simply insurance coverage only don add those misc enhance cash return bla bla bla.

 

[harky]

hehehe ya lor.. i do see some return after i switch.. maybe will close it and do trade and get some Dividends... like not bad ah

Seriously ILP cannot play. Difficult to beat inflation 7 year in ILP. Hardly see any gain.

Insurance buy simply insurance coverage only don add those misc enhance cash return bla bla bla.